Currencies in Middle East resilient from Covid period till date
RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly...
Economy
DEWA files patent for energy liquid
The liquid enhances efficiency of energy storage systems.
Business
Business
Cut meat consumption to avert climate catastrophe: Report
Fossil fuels, energy and transport tend to dominate climate discussions. Governments largely ignore livestock’s contribution to climate change, terrified of...
- Fossil fuels, energy and transport tend to dominate climate discussions
- The livestock sector is responsible for 14.5% of global greenhouse gas (GHG) emissions
Business
Al Sadd releases Xavi
The Spanish legend may now return to Barcelona.
- Xavi has so far led Al Sadd to the 20-2021 QNB Starts League title, and the 2020 and 2021 HH the Amir Cup titles
- He has also coached the team to win the 2020-2021 Qatar Cup title, and the 2019 Qatar Super Cup
Economy
Bahrain plan eyes $2.5bn fresh direct investment by 2023
The primary aim of the plan is apparently to create quality jobs and enhance Bahrain’s economic competitiveness.
- The Economic Recovery Plan was initiated by the directives of King Hamad bin Isa Al Khalifa
- It has since won the approval of the cabinet, which is chaired by Crown Prince Salman bin Hamad Al Khalifa
Arts & Culture
Dubai Collection’s first physical exhibition inaugurated at Etihad Museum
"When Images Speak: Highlights from the Dubai Collection", the first physical exhibition of the Dubai Collection, was inaugurated by Sheikha...
- Sheikha Latifa thanks the Dubai Ruler for his contribution of the largest share of works for the exhibition.
- On display are 70 modern and contemporary artworks from across the region.
Business
Infath of Saudi Arabia logs $159.9m sales in October
Entrustment and Liquidation Center (Infath) of Saudi Arabia has raked in its highest ever amount in October thanks to sales...
- The organization has now raised more than $533 million since it started operations in September 2020
- Infath is planning to supervise 3 additional auctions during the first half of November 2021
Economy
Saudi economic growth in Q3 5.7 percent likely: Capital Economics
Compared to the growth of only 0.7 percent in the second quarter of this year, Saudi Arabia's economy is likely...
- Capital Economics says increases in oil production, along with a loosened fiscal policy, will only boost recovery further.
- In mid-October, the World Bank revised Saudi Arabia’s 2022 growth forecast from 3.3 percent to 4.9 percent.
Business
Three Saudi companies to offer nine million shares in IPO
Three Saudi private companies will go public, offering around nine million shares in IPOs, according to the Saudi Exchange market...
- Among them was the Riyadh-based Advanced International Company, specializing in providing technical and security solutions
- Alwasail Industrial Co., also offered 2.5 million shares
Geostrategy
World food prices rise highest in a decade: FAO
The UN barometer of world food prices has surged to a new peak, reaching its highest level since July 2011,...
- Reduced harvests in Canada, Russia, US lead to an increase of 3.2 percent in cereal prices.
- The vegetable oil index went up 9.6 percent, hitting an all-time high, and dairy rose by 2.6 points.
Economy
60,000 Saudi nationals added to private-sector job force in Q3 under Nitaqat
Around 60,000 Saudi nationals were added to the kingdom's private-sector labor force under the Saudization program during the third quarter...
- The number of Saudi nationals in the private sector job market was 1,826,875 in Q3, an increase of 3.41 percent.
- Around 65.06 percent of these workers were males and 34.94 percent females.
Arts & Culture
UAE’s top golfer stays in contention for tourney
Ahmad Skaik, who is the sole representative of the host UAE and the Gulf region, said he was happy to...
- UAE captain Khalid Yousuf and fellow players Khalifa Al Masaood and Rashed Al Emadi missed the cut.
- Clubhouse leader Bo Jin of China carded a bogey-free seven-under par round of 64 to go eight under par for the tournament, six strokes ahead of Skaik.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Currencies in Middle East resilient from Covid period till date
RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly...
Economy
Company News
Saudi Electricity borrows $568m
Business
Latest News
Julphar Q2 sales $114m
Business
ADQ and OIA discuss opportunities to boost Oman-UAE cooperation
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority...
Business
UAE president, Oman sultan discuss ties, collaboration
Sheikh Mohamed discussed opportunities for building upon the growing economic ties between the UAE and Oman.
Geostrategy
Most Read
Business
Saudi Arabia urges cooperation in tourism for sustainable future
Riyadh, Saudi Arabia - Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said more cooperation is a must for sustainable...
- Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said the cooperation includes facing the issues spawned by Covid pandemic.
- Al-Khatib said the tourism sector is “more capable of providing wealth and opportunities in places where they are most needed.”
Business
MENA’s first NFT marketplace NIFTY Souq secures $1.5m investment
The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million...
- Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US.
- The seed-fund investment will be used on tech updates and the platform's expansion, says Talal Afghani, NIFTY Souq’s Co-founder.
Economy
Saudi Arabia ranks first in G20 visitors flow rating: report
According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
- According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022
- Saudi tourism sector is currently recovering from the fallout of the pandemic following preventive measures taken by the government